FAMILIES

PUTTING LIFE INSURANCE TO WORK FOR SUCCESSFUL FAMILIES

Preserve Family Harmony after You Are Gone

Beneficiaries almost inevitably fight over inherited assets when the founder is no longer there to intervene. You can avoid this outcome with a written estate plan and life insurance, because:

Estate planning instructions will dictate “who gets what and when” to eliminate any confusion as to your intent and to discourage protracted disagreements.

Life insurance leverages the premium dollars paid into an income tax-free cash death benefit that your beneficiaries can use to equalize their inheritances, especially if your estate is illiquid (real estate, family business, etc.).

CASE STUDY

Treating children fairly while preserving the family business.

A couple in Chicago was concerned about how to treat their two children fairly while perpetuating their illiquid commercial real estate business after their passing.

Protect Your Family by Creating Liquidity

An unexpected death can financially devastate an entire family, especially if it occurs to the primary breadwinner. Who will pay the mortgage, take care of the medical bills, or send the kids to college? Life insurance provides an income tax-free cash death benefit to your surviving spouse, children, and other named beneficiaries so they can fund these important needs if you are no longer there to provide for them.

CASE STUDY

Protecting the family while the practice is still growing.

The husband of an accountant who is starting her own practice was concerned that he and their two kids would be financially devastated should something happen to his wife.

Minimize Taxation of Your Assets

Death and taxes are two certainties of life. An estate plan that incorporates life insurance can help minimize or eliminate taxation, increase asset protection, and preserve more of your wealth for your family and charity.

CASE STUDY

Minimizing taxes on retirement accounts.

A retired physician in the top tax bracket was concerned about looming income and estate taxes due on her substantial retirement account.

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Special Expertise Working with

Families with existing life insurance

Owners of large retirement accounts

Foreign nationals

Family business owners

Same-sex couples

Second marriages

Individuals with special needs

What Our Clients Are Saying

“I have worked with Cory Grant for close to 20 years and he has helped my family with a number of estate and wealth transfer planning strategies. The estate transfer techniques, even with two of our children getting divorced in the process, has worked and now the life insurance we invested in for estate liquidity can be used for family investments. As a physician, it’s great to see the blend of competence and bedside manner in an advisor.

-Dr. Richard Chistlieb, Sarasota, FL

“As the head of a division of Abbott Labs and director of a bi-national nonprofit, I have encountered a number of advisors through the years. Cory not only helped me with my estate and business succession plan, but his creative solutions for bolstering the endowment of the nonprofit using well designed life insurance were cutting edge. I asked him to be on our board and participate in my family business because it is so rare to find a combination of sophistication and creativity in an advisor.”

– Dr. Henry Sauls, Del Mar, CA / Sarasota, FL

“As a practicing lawyer, I constantly come across professionals who claim to work in the life insurance field. But, Grant Hinkle & Jacobs truly specializes in life insurance. Since the partners have legal backgrounds, they understood how to properly design our coverage to accomplish my family’s wealth transfer planning objectives. They also brought important issues to the table that my family did not originally consider. Due to changes in family dynamics, we had to make decisions that required significant changes to our policies, and Grant Hinkle & Jacobs helped every step of the way. I strongly recommend working with this firm.”

“I met Cory Grant back in 1998 when my parents were beginning a transition of the family business and associated real estate. He first reviewed our life insurance coverage and found less expensive, more suitable coverage with a high quality carrier and then worked with us to design an overall succession and expansion plan. His firm now works with three generations of our family.”